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Company update: Nutreco Q3 2012

Dutch animal feed group Nutreco reported third-quarter revenue of €1.48 billion ($1.94 billion), slightly above analysts' forecast.

Analysts in a poll commissioned by Reuters had forecast revenue of €1.455 billion.

It confirmed its full-year outlook for earnings before interest, taxes and amortisation (EBITA) before exceptional items of €260 million.

Nutreco, which produces animal and fish feed and is a major poultry processor, has a global market share of more than a third in salmon feed.

Q3 in short:

  • Animal Nutrition revenues up 7% due to higher feed prices as a result of rising raw materials prices,
  • Volumes down 3% due to tough market conditions mainly in Spain,Fish Feed revenues increased by 21% driven by 15% total volume growth of which 6% is organic and a 9% contribution from the Shihai acquisition,
  • Solid profits in all segments except for Meat and Other which declined as a result of higher feed costs,
  • Outlook: In an uncertain environment and based on current trading conditions, Nutreco confirms its outlook for the full year and expects EBITA before exceptional items to be approximately €260 million (2011: €232 million).

Read the full Q3 press release on the Nutreco website.


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